(Yicai Global) Feb. 12 -- Tong Oil Tools Co. will exploit a recovery in the crude oil market to increase its investment in its oilfield services subsidiary in the U.S. to boost local business growth.

The company intends to use its own funds to infuse USD41 million into its wholly-owned U.S. unit Tong Petrotech Inc. to better support its production and business activities, the oilfield service firm, headquartered in Xi'an, in Northwest China's Shaanxi province, said recently.

U.S. oil production has started to pick up since last year's fourth quarter. The number of active drilling rigs in North America has gradually increased and business volume this year is set to keep growing. The capital increase will enhance the operational capacity of the subsidiary to seize the favorable environment for the recovery of the sector, per the statement.

Tong Oil provides oilfield services including comprehensive enhanced oil recovery, drilling and completion, fracturing and CBM technologies and block integrated turnkey drilling to oilfield customers, public data show. Turnkey projects are those where the contractor assumes sole liability for completing all or part of a well project in return for a greater reward if successful.